from our panel, what should we be thinking about, joe? >> final thoughts, the inflation numbers will come down very slowly. watch the jobless claims eventually the unemployment benefits will run out and you'll see claims spike. maria: adam? >> over the past two weeks, stocks have actually rallied, despite all the headlines, despite what's been happening in the banks and that speaks to not only optimism but the fact we've gotten two negative collectively people are actually putting money to work. maria: we'll see what happens at the financial services hearing today. kayleigh what's on your mind? >> i think that like i said we can expect a recession and i think that largely because the market is expecting that. you look at the way certain sectors are responding to the current economic crisis, and i think it's pretty inevitable. maria: great show, guys, adam johnson, kayleigh mcgee, joe lav onia, please come back soon. have a good day. "varney" & company begins right now. stu take it away. stuart: good morning, maria, good morning, everyone. honesty in government. sadly lacking. we have an administration that's

not being honest about the severe problems facing our country. from the president on down, there is intense political spin that sometimes borders on a lie. the president is touring the country attacking maga republicans blaming them for the country's ills. alejandro mayorkas is spinning wildly about the border, and karine jean-pierre tells us the nashville shootings are the republican's fault. you can't solve a problem unless you're honest. more on that, throughout the show. on the markets, despite it all, a rally. dow is up what 230. nasdaq up 124 and percentage terms the nasdaq is up nearly 1% i'll call that a modest rally. watch this bank today. look at the stock of it. credit suisse only recently bailed out. the united states senate says credit suisse hid the assets of 25 wealthy american families, enabling them to escape american taxes. i predict senators warren and

sanders will be mad as hell. look at oil. this is important. it's powering up to $74 a barrel today, and gas, therefore, is moving higher. yeah, i know, i've got this completely wrong. the average gallon of gas regular 3.46 and that's up a strong 3 cents overnight, it's on the way up. diesel up one cent at 4.24 with little change for interest rates this morning. the 10-year yields at just over 3.5%. actually it's straight up to 3.60 as we speak. the two-year still above 4%. i've got it at 4.13. that's a sudden movement just in the past half hour and that implies money coming out, yield going up. interesting. no flight-to-safety. on the show today, school choice texas, the latest state to give parents control of the money. so far, school choice has been welcomed by red states, republican states. when, if ever, does it reach the blue state teacher's union? we'll discuss it and guess what?

we'll look at goat snuggling. why are we bringing something you probably never heard of? because some vegans think it is exploiting animals and must therefore be stopped. it's another example of the extremist imposing their views on the rest of us. goat snuggling. wednesday, march 29, 2023. "varney" & company is about to begin. honesty ♪ stuart: that fits right in, does it not? todd: plus billy joel is huge in the goat smuggling trade. stuart: it's not smuggling it's snuggling. i knew you never heard of it. todd: no. stuart: i should have brought it up but there's a lot of goat snuggling on this show later on

today bet you can't wait. let's get serious. there is a lack of honesty in our government. that's my opinion. we have secretary mayorkas denying there's a crisis on the border. both president biden and his press secretary karine jean-pierre used the shooting in nashville to push an agenda which villainizes republicans and gun ownership deflecting blame with spin is not honest government. watch this. >> you're not allowed to own an automatic weapon, a machine gun, a flame thrower and so many other things. why in god's name do we allow these weapons of war on our streets and in our schools? >> how many more children have to be murdered before republican s in congress will step up and act to pass the assault weapons ban. to close loopholes, we need to do something. stuart: with all these crisis, really, we do need honesty. todd piro with me this morning. we need honesty and we're not getting it.

todd: i don't think we're getting it and it's a two-parter here first with regard to joe biden's comments. they were false and when you put false things out in the ether, you may not think you should be able to buy a machine gun or a fire starter or flame thrower but you can, and that's a fact, and the fact that he's putting wrong things out in the ether really makes having a legitimate discussion about the real issues to prevent kids from getting killed in schools way more difficult. second. karine jean-pierre, you and i both had a visceral reaction when we heard that. where is the comments about the families? where is the expressions of sympathy for the mothers and the sons? stuart: yes. todd: for the mothers and father s who aren't going to have that kid at that table anymore. stuart: where is the mention of mental illness? where is that? todd: that's the issue here. stuart: where is it? no mention whatsoever. todd: because it doesn't fit the narrative so if it doesn't fit the narrative, stu, they are going to avoid it and you notice they immediately went to guns as soon as they knew that the profile wouldn't fit their narrative.

if this was white supremacy we would still be on that and guns be the secondary layer of the story. instead, once they realize it didn't fit their narrative, immediately guns and that's sad especially when you hear the stories coming out of nashville, tennessee right now. the stories of heroism, good americans. it's so sad. it takes my beth breath away when you hear these stories. stuart: is it going to work in 2024 and i ask the question because i want you to see this poll. biden's approval rating is all the way down now to 40%. it's not quite a historic low but it's way down there. i mean, can he run on what this dishonesty in 2024? todd: he can't and what i like to look at is the timing of this poll, stu. this poll was taken in one of the biggest of the crisis that joe biden's experienced. i'd argue his entire two and a half years was filled with crisis but the the biggest is this banking crisis. that freaked out a lot of people and the reason you're seeing numbers and stu, one number in particular, 25% of dems, only 25

% want him to run. this is his own party. what does that tell you? stuart: fair enough. you're with me for the full hour so we got plenty of time to discuss this. next case. they are still wrangelling over the debt ceiling and yes the budget. it goes on and on and absolutely goes nowhere. speaker mccarthy says i want to meet with the president. i want to talk about the budget. all right, lauren, what did the president say, same old same old? lauren: i'll meet with you, but show me your budget first. in response to kevin mccarthy, the president said my hope is that house republicans can present the american public with your budget plan, before the congress leaves for the easter recess so that we can have an in depth conversation when you return. recess is this week and it goes through april 17. well, what biden is trying to do here is pin any debt ceiling showdown on the republicans. stuart: exactly. lauren: he wants to increase the debt ceiling with no conditions. he wants this clean increase, and kevin mccarthy and the republicans are saying we

cannot do that without spending cuts that accompany that. stuart: yeah. lauren: because it's fiscally mad and irresponsible to do so. stuart: it's a dishonest budget in the first place what he's put out there. he says it's going to reduce the deficit. no it's not. well, what do you got? todd: no matter what democrats like joe biden put out there on this debt ceiling republicans need to hold the line. it's going to be tough because to your point. falsehoods are being put out there, and it's tough to rebut a falsehood. you need to hold the line and explain to the american people why this is disastrous. lauren: but they need to talk. they need to sit down and negotiate and find areas of commonality. is there something they can do with the border together? can they clawback some of that unused covid money? there are simple solutions. they need to talk and one can't say i'll only talk to you if you agree to increase the debt ceiling without any limitations, because the cfrb says that is not precedent. stuart: it's pathetic is what it is. i'm getting all fired up and

it's eight minutes into the show and i'm fired up. check those futures, please. you'll like this. let's have a positive here. dow is up 250 almost and that be .75%, not bad. the nasdaq is up 128. pre-market that is a 1% gain. solid for the s&p as well. eddie ghabour is back. tense up sports fans, here is eddie. when do we hit bottom? >> stuart we think we're going to hit bottom sometime between june and september and the reasoning behind that is we are on a crash course collision. the market is, with a debt ceiling debate that's going to start heating up in the coming months with the potential of having our debt downgraded which will cause panic like it did in 2011 as well as the worst economic data we have seen in this economic cycle. it's all going to be coming at the same time, and i think we're going to get that last flush-out of capitulation that we have yet to really see , where you're set setup kind of looks to june, end

of june, to september, where we will start buying. you can call me a bull again, hopefully at that point in time, and then setting ourselves up for a fourth quarter rally. stuart: are some of your folks, some of your investors, who invest with you, are they getting a little nervous they may have missed the rally? and if they don't buy anything, despite treasuries until june, july, august, september, you know, they could miss out on a solid rally. >> i'll tell you, stuart. in 25 years of doing this , i have more clients that have been the most happy they've been because of the timing. look, even with where the nasdaq is now, you would need a 30-plus percent return to get back to where it was and we started getting out in december of 2021 so it's really a part of when you got out, right? if you got out towards the high, you're still way ahead of the game, and to your point on treasuries. we are very bullish on treasur ies. we bought treasuries yesterday.

we bought treasuries last week and if they take another big dip today because of the spike in rates, we'll probably buy more. stuart: you bought long term treasuries i think, and what would that be, 10 year, 30 year, what are you buying? >> yeah, so anywhere from 10- year and out. we're overweight, the 20-year we've added 30-year yesterday, because we certainly believe that the signal that the bond market is sending is a clear recession that we will have, and in traditional recessions, especially ones that could be as hard as this one, the long end of the curve will really go down and i think there's tremendous upside on bonds. stuart: but what you're doing is if you are investing in treasur ies, long treasuries, you aren't looking for the interest. you're looking for a capital gain. you're looking for the value of that bond. you aren't going to hold it to maturity. you're going to buy and sell it looking for a capital gain. last word to you. >> that's exactly right and we use that with the etf's and with our timing is right we can take profits from that and go into the equity markets and that's how you have to risk management this time period.

it's unprecedented, but i any patience is going to be huge for investors with some great opportunities in the next six months. stuart: a brave man and a successful man, eddie ghabour, welcome back, good to see you again. i know we'll see you again real soon. eddie, thank you very much indeed. >> thank you, stuart. stuart: joe rogan, let's bring him into the show. joe rogan blasted the mainstream media. roll it. >> the media has lost its holdover the narrative. now the media conveniently leaves out anything that it doesn't want to be front and center. stuart: that's interesting. joe rogan says the media has lost its hold on the narrative. we'll get into that for sure. dr. ben carson is going to be with us. he's talking about school choice i want to know when school choice extends to blue democrat states. i'm tired of waiting. the man who ran trump's interior department is very unhappy with biden's interior secretary. ryan zinke wants to know why we can't mine for special rare

earth in america. why are we relying on china? ryan zinke is on the show, later ♪ your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. at stores everywhere without a prescription.

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♪ stuart: why not a little foo fighters "in times like these" as we look at the white house. china threatening retaliation over the planned meeting between taiwan's president and house speaker kevin mccarthy. what kind of retaliation do they have in mind? todd: it's called resolute counter measures and i'll get into exactly what they are

talking about. beijing repeatedly alleged the u.s. and taiwan are acting in secret to push for taiwan's independence and they have threatened these resolute counter measures, should the two leaders meet in recent weeks china ramped up diplomatic pressure on taiwan which governs independently as a democracy and has mobilized its military forces over the island. although the u.s. , we official ly recognize the one china policy that observes chinese sovereignty over taiwan, china's alleged u.s. is undermining this rule and a meeting scheduled for april 5 in hada stuart: got it. thanks very much, now this. president biden's interior secretary was clueless when questioned about china's influence over the supply of critical murals. watch this. >> would agree that not having the critical minerals identified and produced in this country, would present a security problem , would you agree? >> congressman, i know that energy independence is a priority of president biden.

stuart: wait, wait, wait wait wait a minute. energy independence is a priority of president biden. the gentleman on the right hand side of the screen is the aforementioned ryan zinke, former interior secretary. biden's priority is energy independence. have at it, please, sir. >> well, you know, you're fired up today and i'll pour a little gasoline on it. we are absolutely vulnerable to china on critical minerals, and let me tell you how. ev world, all is about lithium, cobalt, all controlled and mined primarily by china, on defense, "varney", and this is where i'm going to raise the alarm bills, is that critical minerals are so important in defense, germanium as an example is used for laser, all of technology. we don't have the stockpiles. we send the specs to china and have them grow the crystals so we can implement our plan to insert, and this covers defense,

it covers artificial intelligence. we are beholden and vulnerable to china and this administration blindly is going forward. they're jumping off the cliff before we've satisfied what i think are key supply chain issues. stuart: and the only thing you can do is to expose what they're doing. >> absolutely, and look. this is china. if you want to look at, if you're an environmentalist, 890% of the world's plastics comes out of four rivers in china. they are the world's largest emitter. u.s. , we do it cleaner, better, no doubt about it. it's cleaner for the world and yet this administration blindly is jumping off the cliff in ev world, but look, they have been blind for a long time. look what's happening in ukraine we're blindly tip-toeing into a nuclear combat into russia, no plan and there's no plan on how to be energy independent when china controls the market on a

critical minerals we need. stuart: congressman, i believe you're on the appropriations committee in the house. democrats are still pushing to have the debt ceiling raised without conditions, just watch this , please, roll it. >> raising the debt ceiling, it is about paying our bills, yet something else that the republicans don't seem to understand. i know when they buy stuff, they know that they have to pay the bill so what's so hard about understanding that raising the debt ceiling is about paying your bills. stuart: wait, wait, wait wait wait. excuse me? excuse me, please? i didn't run up those bills. the democrats ran up those bills with their spending. go for it. >> well, it's kind of like a credit card, right? the kids have the credit card, they charged it up. matter of fact they overcharged. first thing you got to do is take the credit card away so we're taking the credit card away and we're going to shape spending the way it should be. reduce spending, reduce energy costs, you know what? that makes inflation look a lot better. lower the interest rates. it's about the economy stupid, right?

and this administration, to think, that the house is going to raise the debt ceiling without negotiation in good faith to curb the spending? well, blind as always. stuart: one of these days, congressman, i'm going to get to your state, montana, and when i do we'll do the show from there. who knows. >> we'll hold you to it this summer. come out and visit. stuart: ryan zinke, thank you, sir, thank you very much for being with us. good stuff. >> been a pleasure. stuart: sam bankman-fried charged with bribing chinese officials. $40 million? lauren: yes, because he wanted them to unfreeze $1 billion in cryptocurrency so he could trade it. this is his third indictment, charge number 13. bribing chinese officials with $40 million. this happened back in 2011. he paid, they unfroze, he will be arraigned tomorrow, a trial as you know starts in october, so the recap here. he's under house arrest with his parents. oh, new bail conditions.

he can get netflix, doordash, and g-mail on his devices that's it. todd: what about grubhub? lauren: no, they might change it with this new charge. todd: and slice? stuart: but he's living at home with his mom and dad, stanford university, i believe. lauren: yes. stuart: stanford has been in the news. lauren: and the charges keep coming. three indictments. stuart: thank you very much. let's move on. why don't we look at futures, please? i mean, why not? there is the good news, dow is up 250, nasdaq is up 150. banking crisis may be softening down a little bit. we'll take you to the opening bell, next. ♪

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for our family. stuart: it's wednesday morning. that market is going up today. dow is up 250. nasdaq up 150 and look whose here. shah gilani. all right, shah. i like the look of this rally this morning is the banking crisis winding down? >> unfortunately, i don't think so, stuart. i think it's going to be a hang long hall as far as the banks go

most of the banks in the united states suffer the same problems and issues that svb did which is they had loaded up on low interest yielding, mostly treasuries and mortgage backed securities with rates gone higher they are under water on those and meantime the depositor s are fleeing from money-market funds getting much better yields on so no bank is immune from what we saw happen as svb i'm calling canary in the coal mine. stuart: don't the authorities have the tools available to stop the rot if it starts? >> i would say yes and no. they have the tools to increase liquidity and provide some safe havens but they don't have the ultimate tool to stem the real banking crisis which be depositor flight, and the only thing that would stem that be universal deposit insurance and i don't think congress is going to do that. that creates moral hazard beyond anyone's comprehension so until we get that, no.

every bank is going to be prone to some kind of run at any time. stuart: okay, look, i know you've been a bit more bullish recently. will you tell us what you've been buying? >> been buying energy stocks on the dip. we bought them a little bit higher. we've been buying them lower here. i think energy is going to stabilize and oil is going to stabilize. we've been buying commodities producers. we've also been buying the chipmakers, and we own technology, we own the usual microsoft, apple so we've been doing well with those on the re bound, but we're keeping it light and again, everything that we're going into that's new , stuart, we're making sure that we have stop losses if the market backs off, we're going to take whatever profits we're getting and we're going to go back and reassess, but we're not out of the woods but i think there is also a chance that we can go higher. there's so much money on the sidelines, stuart. if investors start to come in here, if we get past some resistance levels in the market and everyone thinks the fed is going to pause, we could see a tremendous melt-up. stuart: when you say there's money on the sidelines what is

that in bank accounts and money funds that kind of thing? how much money we talking about? >> let's talk about money-market funds. we're talking about $4.5 trillion, so we're talking an incredible alt of money that's on the sidelines and investors have waiting. they are getting nice yields for a change so not necessarily anxious to come into a market that's going sideways but if the market starts to turn up, a lot of that moneys going to come off the sidelines, come out of those money-market mutual funds, and come into the market. that's where i think we could see a melt-up. are we there yet? no. there's too much volatility in the market. there's too much indecision and right now with the banking crisis, there are, that's probably the major problem that investors are worried about. stuart: i miss the good old days when you'd come on the show and say we're going straight up. >> [opening bell ringing] >> i miss them too. stuart: shah gilani, see you later, thanks a lot. it is now 9:30 eastern time on the dot. he presses the button, see that guy? we're off and running and the

dow is already up 230 points and climbing. .72% to the upside. virtually all of the dow 30 have opened higher, except american express, okay, 29 of the 30 have opened higher, and the dow is up 247 points. s&p 500 up almost 1%, back above the 4,000 level. the nasdaq composite to the upside 1.1%, 11, 800. let's see big tech presumably they are doing well if the nasdaq is up like that. yes, they are. amazon is up 1.7%, apple 1.2%, microsoft same story, meta 1.2%, alphabet almost 1%. more trouble for the very troubled credit suisse bank. an investigation says the bank hid the assets of 25 wealthy american families to avoid american taxes. $700 million worth of assets said to be involved. reportedly, the bank changed or helped change family member's

nationality so they could hide their money at credit suisse legally. we haven't got a comment yet but i'm sure senators warren and sanders will be and politico mechanism tick. susan is with us. what's this about amazon maybe buying amc? >> i think it's exciting back to the banking part d you know that ubs ceo has now changed out after closing that deal with credit suisse, how does that feel? only being on-the-job for two years and then the guy whose before him for about seven years is brought back in. as for amazon and amc itself spending billions a year on content so why not show on the big screen? that's the thinking in this possible deal and more foot traffic, to sell other goods especially with brick-and-mortar and these are preliminary talks. no concrete offers have been made. no financials, but you know amc is worth around $2.3 billion so at a premium on top of that, we know amc is in distress but amazon has also been tight with their cost savings, cutting 27,000 jobs, closing amazon-go stores delaying construction on their second headquarters in

virginia so do you think they have the appetite to spend billions of dollars in this type of deal? stuart: i'm surprised that amc stock is down. if amazon is interested in taking them -- >> about 15% in the after-hours , probably a rethink like we're thinking now thinking is there the appetite in the cash for amazon to spend. stuart: okay next case, who else >> let's talk about apple and content spending. stuart: yes, please. >> you know as i mentioned to you, amazon spending big, along with other tech companies, to not only making tv shows and movies, but then of course, you know, amazon spending $1 billion on thursday night football. apple is doing the same also with sports rights. as i mentioned they might be going after premier soccer league for you and also $2.5 billion over 10 years for major league soccer but here is the thing is that you have deep pocket tech companies going after other people's business. so yesterday, you had apple announcing their new buy now pay later feature, so that apple pay later is going to start with zero interest loans on $50 to $ 1,000. no fees, no delayed payments.

apple stock didn't move much but what's actually impacted are the other buy now pay later firms like paypal, selling off after that announcement. stuart: cryptos, let's have a look this morning. i believe bitcoin has gone back above 28, yes it's at 28, 400 at the moment despite the regulatory concerns and what's going on with coinbase? >> exactly right. so this is kind of like acting like a nasdaq 100 tech stock once again, and by the way the nasdaq is on pace for its best quarter going back to the start of covid in 2020 so that's where a lot of the moneys going as well. back into risk assets, like bitcoin and you saw yesterday, binance which has been sued by the cftc, also its ceo has been sued as well, $2 billion in out flows. where does that money go? you imagine it goes to other exchanges possibly to coinbase and last night you had cathie wood buying 50,000 more shares of coinbase after buying 20 million-plus last week. so it's a conviction trader. stuart: yeah, has she got money flowing into her?

>> yeah, well she said that the $2 billion in losses last year is going to be harvested as a tax loss, so that, you know, could help on the balance sheet. stuart: how convenient. lucid is laying off people, i believe. why are they doing that? >> yeah, 1,300 jobs so 18% of the workforce. of course costs them around $30 million in the quarter, but look. making electric cars, lucid is finding out is a tough business. elon musk will tell you that with tesla. tesla only delivered a profit after 10 years in business, and lucid's only delivering 4,300 last year, only 4,300 cars last year, burning a ton of cash, but here is the problem this year, is that they have reservations for 28,000 cars. they are only going to build maybe 14,000. that's a problem. we know ramping up production is not an easy game, right? stuart: no, could be the shake- out in the ev industry there's a lot of competition here. they are going to shake some out >> tesla, according to wedbush, did you read that note this morning on track to win the

price war in china. wedbush still calls a 225 stock and you see the up and up arrows there. stuart: 225 from wedbush, that's our friend dan ives. >> that's right so delivery will be 430 or so in the first quarter. stuart: i believe lululemon stock is straight up this morning, yes, it is, 13%. >> and you wonder what the expectations were like how negative and how bearish were investors in this stock? so they had a huge holiday sales quarter beating not only when it comes to sales and profit, but they also raised their guidance for this year as well, so you know i guess the athleisure and the tight licra to work is back in. stuart: whatever you say, susan. [laughter] did the analysts get it wrong and not understand or not figure it out that lululemon had a wonderful holiday quarter? >> that's usually the reaction when it comes to these type of stock moves. stuart: last one, micron, chipmaker. i think it's a big gain, not bad , 5% story please? >> yeah, so basically they had a terrible quarter to be honest with you because they missed not only when it comes to sales and

profit. in fact losses almost doubled, but here is the bottom line is that they are cutting jobs. they are moving those layoffs up to 20% of their 70,000 workforce , so that's 10,000 layoffs for the boise, idaho based memory chipmaker but the positive here, and why the stock is reacting cost cutting, but also the fact that they said the inventories are now down. those bloated inventories are done. i just want to talk about tech stocks and chip stocks in particular. you know they have led the rally this year. nvidia, everyone is talking about nvidia a $372 billion in market cap this year, that stock is up about 80% but you're also paying for it at a price premium of 150% of the s&p average. so you have to really believe in it to buy in. stuart: stock of the year so far in my opinion. >> i think so. stuart: thank you, susan. coming up, texas senator ted cruz, really lashing out at alejandro mayorkas during the border security hearing. watch this. >> what are these wrist bands? >> i don't know what they are.

>> you don't know what they are mr. secretary, you have just testified to the american people you're incompetent at your job. stuart: he doesn't know what those wrist bands are. are you kidding me? that's how the cartels milk illegal migrants. border patrol counsel vice president will be here. and then prince harry made a surprise visit to london. seems like he didn't get a warm reception from his brother prince william or his dad king charles iii. nigel farage joins us later. he doesn't really care for prince harry. we'll be back. ♪

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stuart: wednesday morning, 11 minutes into the session, and that is a modest, solid rally.

contradiction there. the dow is up over 200 and the nasdaq is up 156, which is 1.3%. that's a rally. now this. president biden told reporters the banking crisis is not over yet. his words. edward lawrence at the white house. didn't the administration say the banking system was safe and secure? just last week? reporter: yeah, they did, in fact, this is the president off script without a teleprompter. president biden saying that things in the banking sector have started to settle down but i think it's important to hear exactly what he said next, after being asked if there's more coming from the executive branch >> well, no, it's not over yet. we're watching it very closely. i think my team is handling it very well so far, and rather than get ahead of myself here, i think let things move the way they are. reporter: this is a different message being portrayed on capitol hill testimony by secretary janet yellen of the treasury department who says the system is safe and secure. officials of the federal reserve also trying to portray "the situation" with the banks has

calmed down. both the fed chairman and the vice chairman of supervision , michael bar, said in the past week, that they would support stronger banking rules if necessary. house financial services committee member representative brian steele says the banks were not tested for the scenario that unfolded. >> actually do the stress test on the fact that inflation be persistently high, that interest rates would remain persistently high, that first, they would have to admit the premise was wrong, that this was temporary and transitory. they would have to actually admit that inflation is here and here because the biden administration has put forward policies driving it higher. reporter: so the man at the federal reserve in charge of looking after supervision and regulation of banks he's on capitol hill again today testifying before the house this time. stu? stuart: all right, thanks very much edward. time to meet a bottom fisher. someone who wants to wade into the regional banks and buy their stock. that man is dory wiley on the extreme end of the set there

welcome back. >> i thought dory was the fish with no memory but now it's the bottom feeder. stuart: very good. [laughter] todd: finding nemo reference. stuart: you are buying these regional banks. you are looking for a bottom here aren't you? >> sticking with the metaphor, i'm wading in. stuart: not plunging, wading. make your case. well banks have sold off quite a bit, so we call it baby with the bathwater so there are plenty good banks with strong capital positions that haven't had deposit runs, that have great history, good credit, good time to buy because they are at record lows. stuart: so you know from your position that if there's a deposit outflow, a specific bank , do they publish these numbers everyday? >> no, they don't but you talk to these banks. you call them up. you know the ceo. stuart: they tell you the truth? >> they will tell you the truth absolutely. that's one of the neat things about banking. there's a lot of credibility in banking, because they are so highly regulated and it's the

most transparent industry in the world so yeah they will tell you the truth. stuart: the banks on the screen, left-hand side at the moment are they the banks you want to just wade into? >> i think they are, pac west sold off the most, the best franchise in southern california , good long history, texas capital bank is loaded with capital. they have actually been shrink ing the bank, so they have lots of capital. very well-run. good change of direction. connectone has a lot of good capital here in new jersey, great bank, sold off a lot. peapack is kind of a fiduciary bank in new jersey. night well run bank also at record low. stuart: so if you called up any one of these banks and found out there was some deposits going out of the bank you'd get rid of that stock immediately, would you? >> no not necessarily. depends on the deposits and how big the run is and depends on their liquidity position and their loan to deposit ratio. stuart: you're looking for a long term gain here. you're not looking to trade in and out fast. >> well, i think it's going to be a longer term opportunity,

because i'm not sure that banks are just going to take off here over the next six months. we're still waiting for possibly another shoe to fall on the credit side and in real estate and we just don't have enough clarity on that yet. what we do know is it won't be as bad as 2008 but somewhere between here and there. stuart: but you're walking into good, quality regional banks as of now. >> absolutely. if you're in good quality regional banks and things get worse, they do better, because the business runs to them. stuart: brave man, dory wiley, appreciate it. thank you very much. the irs was asked about their visit to twitter files matt tyeb i's house. todd? todd: did you know the irs made house calls before this because i sure didn't. stuart: i don't want them. todd: the irs remaining silent on their policy for random visits or how often it sends agents to people's home, after the journalist was visited by an agent the same exact day he was set to testify on capitol hill over alleged government censorship on social media.

tweeting last night, "for those asking i don't want to comment on the irs issue pending an answer to chairman jim jordan's letter. i'm not worried for myself but i did feel the committee should be aware of the situation." congressman's letter to many answers on what prompted the visit. >> while he's testifying award winning journalist new york times best seller testifying in front of congress on the weaponization of the federal government, testifying in that committee hearing, democrats are asking him who his sources are, violating the first amendment attacking the first amendment. while all that's going on, guess what? the irs is knocking on his door, left him a note saying we'll be back in touch with you after the weekend, on the following monday. todd: jordan requesting a response from the irs no later than 5 p.m. on april 10. i just want to add one thing. this is in response to tyebi getting a refund. imagine what it's like if you have to pay. stuart: [laughter] or audit even worse. thank you, todd. coming up don't forget to send in your friday feedback. e-mail questions comments

critiques whatever varneyviewers @fox.com. to a sports alert. nfl announced teams may play as many as two thursday night football games per-season. super bowl mvp patrick mahomes is not a fan. we'll talk football next. you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence.

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stuart: watch out, "varney" is talking football. the nfl, don't cringe, lauren. the nfl is making changes to thursday night football. todd: what are they making? stuart: changes. whose not happy? lauren: this is football, not soccer. stuart: okay. lauren: got it. okay. the players aren't happy including patrick mahomes. pull up his tweet. when the leagues agreed to two thursday night games per- season, he tweeted that emoji. the nfl commissioner roger goode ll says data shows that player injuries do not spike when they play a thursday night game, so, play two. critics say well, hey, nfl, you're sacrificing safety for amazon, which streams the

thursday night games. stuart: is that why they want two thursday night games per- team, per-season? for amazon? lauren: maybe for viewership. stuart: you're nodding your head todd: the numbers haven't been good. football has been horrible. three reasons i don't like this. one going back with what patrick mahomes says players are getting stronger and faster and injuries are bound to happen. two, what if you're a family and buy tickets for a sunday 1:00 p.m. game and they flex it to a school night 8:00 p.m. what do you do? sell it, your kids don't get a chance to go and ignores the fan in the stadium and three, my new york giants when they play on a thursday night, they can play the little sisters of the poor, they would still lose, so more thursday night games means more losses for my giants. i don't like it, stu! stuart: gee, i'm sorry i asked. lauren: why wouldn't the league then listen to the players? simple question. todd: because they don't have to unless it's within the confines of a collective bargaining agreement. unless it's in that document they aren't going to listen to the player because they know it means money. stuart: since you know so much about football whose going to

buy the washington commanders? todd: daniel schneider in the process of selling the commanders has the very rich lining up for a potential run. two groups already submitting formal bids, growing belief that a purchase agreement could be in place and that's coming up. one of the billionaires is my teams owner, i'm a devils fan, new jersey devils and philadelphia 76ers co-owner josh harris partnered with mitchell rails and brought in investors including magic johnson. how cool would that be? a groups submitted a fully financed bid that meets schneider's asking price of $6 billion. meantime canadian billionaire is also submitted a fully-funded business of $6 billion. houston rockets owner is another known bidder and amazon founder jeff bezos said to be looking to buy the franchise as well although i have heard rumors his original bid was denied because various reasons. stuart: manchester united talking real sports. todd: all right stuart: they may be worth $7 billion. todd: and then the next team is

worth 8 billion. it just goes on and on. stuart: the popularity of english premier league soccer. by the way, may i offer you a belated birthday best wishes? todd: thank you, and the gift that you gave me was the opportunity to be on your show. stuart: that's the perfect gift really. todd: it's a week i get 52 weeks out of the year because i'm on your show. lauren: when is the real day? todd: yesterday. stuart: march 27. todd: 28. stuart: what is today? lauren: 29. stuart: happy belated birthday sunshine. todd: wow. lauren: did you go out last night? todd: i have a two and six-month old. you think i went out not no, come on. stuart: thanks for being with us we do appreciate it you work hard. still ahead ben domenech, nigel farage and former hud second dr. ben carson. the 10:00 hour of "varney" & company is next.

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